An entrepreneurial auctioneer has spotted the opportunities for those interested in the Airbnb route in his latest property auction catalogue.
Toby Limbrick, director at Network Auctions, says: “The opportunity to make a good income from short-term lets is something more and more buyers are looking for.”
“Airbnb is an attractive alternative to traditional buy-to-let investing due to the more favourable tax regime (you can offset mortgage interest expenses), the widening of geographical areas for investment and the less onerous tenant regulations.”
“Increasingly, we are finding investors are looking for properties which are suited to the short-term holiday rental market so they can diversify their portfolio,” he adds.
Limbrick believes two potential lots at Network Auctions’ next sale may be of particular interest to short-term let investors.
Flats 1-4, 4 Higher Tower Road, Newquay, Cornwall, TR7 1QL comprises a double-fronted freehold of four one-bedroom flats parking at the rear, and is currently let on ASTs producing £21,060 per annum – guided at £330,000-340,000. On Airbnb, properties situated in this location (close to Newquay town centre and Fistral beach), have a daily rate starting at £50 and going up to £100 per night.
Meanwhile, 59 Gladstone Road, Watford, Hertfordshire, WD17 2RA is a spacious four-bedroom end of terrace property guided at £390,000-plus being sold on behalf of the executors. Located in central Watford, the property is just five minutes to Watford Junction station and the free tourist bus to the Warner Bros. Harry Potter studio tour. Similar properties in the area command a starting rent of £200 per night.
“Auction is the ideal place to pick up an Airbnb property – we sell unusual lots, but also strategically positioned properties that perhaps many people may overlook in a catalogue,” Limbrick concludes.
Network Auctions’ next ballroom sale will be held at 2pm, 10th October at The Westbury Mayfair Hotel, 37 Conduit street, Mayfair, London. For more information, please visit www.networkauctions.co.uk.